S - 2 Artificial Intelligence (AI) Stocks That Could Go Parabolic
2023-12-22 06:20:00 ET
Artificial intelligence (AI) stocks have been in the limelight over the past year, thanks to the massive impact this technology is likely to have across multiple industries, with McKinsey estimating that AI adoption could add a whopping $13 trillion to the global economy by 2030.
There are many ways investors can capitalize on this huge opportunity. Two companies that stand to win big from AI adoption in two distinct industries are Advanced Micro Devices (NASDAQ: AMD) and SentinelOne (NYSE: S) .
Both stocks have been on fire in 2023. While shares of AMD have jumped 113%, SentinelOne has shot up 83%, with a big chunk of that jump coming since the beginning of November. The recent stock price action of both companies suggests they may already have gone parabolic -- which refers to a rapid jump in the share price of a company in a short time, similar to the right side of a parabolic curve.
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2 Artificial Intelligence (AI) Stocks That Could Go Parabolic